Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in AppLovin Corporation $APP

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in AppLovin Corporation (NASDAQ:APP) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 2,762 shares of the company’s stock, valued at approximately $1,099,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Board of the Pension Protection Fund purchased a new position in shares of AppLovin in the fourth quarter worth $27,000. Washington Trust Advisors Inc. boosted its position in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 24 shares during the period. Mcguire Capital Advisors Inc. purchased a new stake in AppLovin during the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC purchased a new stake in AppLovin during the 4th quarter valued at $32,000. Finally, First Pacific Financial bought a new stake in AppLovin in the 1st quarter worth $33,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on APP. Piper Sandler restated an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th. Citigroup reiterated a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. Raymond James Financial assumed coverage on AppLovin in a research note on Monday, June 29th. They issued a “strong-buy” rating and a $640.00 target price on the stock. Wells Fargo & Company upped their price target on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $668.27.

AppLovin Price Performance

APP stock opened at $527.06 on Friday. AppLovin Corporation has a fifty-two week low of $325.58 and a fifty-two week high of $745.61. The company has a market capitalization of $177.06 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 0.85 and a beta of 2.49. The business’s 50 day moving average price is $501.83 and its two-hundred day moving average price is $504.78. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business posted $1.67 EPS. The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, analysts forecast that AppLovin Corporation will post 15.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares of the company’s stock, valued at approximately $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider owned 243,961 shares in the company, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 389,924 shares of company stock valued at $195,693,875 in the last 90 days. Corporate insiders own 13.66% of the company’s stock.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.